BusinessCompany NewsEuro: IoD slams decision to wait till 2004

Euro: IoD slams decision to wait till 2004

The Institute of Directors has slammed Gordon Brown's plan to defer his decision on euro membership until next year.

It said that, although it was pleased the chancellor had admitted Britain had not yet met his five test for euro membership, it was ‘disappointed at his decision to re-assess the country’s readiness in a year.

Ruth Lea, head of the policy unit at the IoD, said: ‘The chancellor should, rule out re-assessing Britain’s economic readiness for euro membership for the lifetime of this parliament. We cannot see how the British economy will meaningfully attain sustainable convergence with the rest of the eurozone over the next 2-3 years.

‘We strongly believe that the British economy has not yet attained sustainable convergence with the rest of the eurozone and that we, therefore, could not live happily with the ECB’s interest rates.’

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

12m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor